KNOP Options History — August 2014

In August 2014, KNOP traded between $25.61 and $28.14. ATM implied volatility averaged 25.3%, placing in the 5.8% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 2.6% (HV 20d: 22.7%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 0.05.

Notable Days

2014-08-27: Highest Volume — 95 contracts
2014-08-14: Largest IV drop — 56.1% change
2014-08-13: Highest IV Rank — 23.5%
2014-08-06: Largest Expected Move — 7.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$27.06	$25.61	$28.14	$26.45	$28.05
Max Pain	$25.33	$25.00	$30.00	$30.00	$25.00
ATM IV	25.3%	15.7%	51.7%	24.3%	17.3%
Expected Move	5.9%	4.6%	7.7%	7.0%	5.1%
HV 20d	22.7%	18.1%	27.0%	18.1%	19.9%
HV 60d	24.0%	23.3%	24.9%	23.5%	23.3%
IV Rank	5.8%	0.0%	23.5%	4.6%	1.1%
IV Percentile	21.8%	0.0%	76.2%	14.3%	2.0%
Term Structure	1.8%	-7.2%	12.8%	-7.2%	6.1%
VWIV	20.2%	18.9%	22.3%	19.3%	22.3%
Skew 25d	6.5%	-2.5%	17.4%	-2.5%	9.1%
Skew 10d	10.1%	-4.5%	20.2%	-4.5%	13.4%
Call IV 25d	18.8%	11.0%	27.3%	27.3%	16.5%
Put IV 25d	25.3%	20.1%	30.3%	24.8%	25.6%
Bid-Ask Spread %	120.91	106.23	129.16	115.02	125.19
Gamma HHI	0.93	0.62	0.99	0.97	0.98
Net GEX	14.7K	2.3K	34.2K	5.6K	34.1K
Net DEX	-77.4K	-195.0K	6.3K	-14.1K	-195.0K
Net VEX	-781	-1.4K	-342	-402	-1.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.05	0.00	0.49	0.00	0.00
Total Volume	11.524	0	95	0	0
Total OI	294.571	249	403	274	403

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2014-08-01	$26.45	$30.00	24.3%	7.0%	18.1%	4.6%	0.0%	-2.5%	-7.2%	5.6K	-14.1K	-402	0.00	115.02	0	0	258	16
2014-08-04	$26.70	$0.00	30.9%	5.9%	18.6%	9.1%	0.0%	2.5%	-1.1%	9.2K	-33.8K	-555	0.00	115.73	0	0	258	16
2014-08-05	$26.25	$0.00	31.4%	6.0%	19.3%	9.5%	0.0%	-1.6%	5.8%	8.8K	-39.9K	-616	0.00	117.77	0	0	258	16
2014-08-06	$25.85	$0.00	29.5%	7.7%	19.4%	8.2%	0.0%	4.8%	-3.6%	4.4K	-13.1K	-381	0.00	106.23	0	0	258	16
2014-08-07	$25.61	$0.00	30.6%	6.9%	19.5%	8.9%	0.0%	0.2%	-6.4%	4.4K	-12.1K	-407	0.00	120.13	0	0	258	16
2014-08-08	$25.72	$0.00	30.2%	5.4%	19.7%	8.6%	19.3%	-0.1%	0.8%	3.8K	-6.8K	-360	0.00	115.65	0	10	258	16
2014-08-11	$26.09	$25.00	43.4%	6.4%	20.3%	17.7%	0.0%	0.5%	-3.4%	3.7K	-1.7K	-378	0.00	117.65	0	0	258	26
2014-08-12	$25.79	$25.00	42.2%	6.5%	20.2%	16.9%	0.0%	1.8%	-2.1%	2.3K	6.3K	-342	0.00	120.13	1	0	258	26
2014-08-13	$25.93	$25.00	51.7%	6.6%	20.4%	23.5%	0.0%	-2.1%	-3.8%	6.6K	-22.8K	-525	0.00	120.51	22	0	259	26
2014-08-14	$26.74	$25.00	22.7%	6.5%	23.9%	3.4%	0.0%	3.5%	0.6%	7.1K	-21.5K	-462	0.00	116.94	1	0	259	26
2014-08-15	$27.21	$25.00	24.7%	7.1%	25.0%	4.8%	0.0%	3.9%	-2.9%	12.1K	-50.5K	-665	0.00	116.48	0	0	258	26
2014-08-18	$27.95	$0.00	17.3%	5.0%	26.8%	0.0%	18.9%	12.7%	-1.3%	19.0K	-101.1K	-861	0.49	126.25	37	18	223	26
2014-08-19	$27.81	$25.00	16.4%	5.3%	26.9%	0.0%	0.0%	14.4%	0.6%	19.6K	-88.6K	-903	0.00	126.97	22	0	253	26
2014-08-20	$27.80	$25.00	17.4%	5.0%	26.9%	0.7%	0.0%	12.4%	12.8%	19.3K	-95.3K	-926	0.00	125.84	0	0	253	26
2014-08-21	$28.02	$25.00	16.4%	6.2%	27.0%	0.1%	22.3%	17.4%	7.8%	21.1K	-146.2K	-1.1K	0.00	125.58	31	0	253	26
2014-08-22	$27.99	$25.00	15.7%	4.6%	26.3%	0.0%	0.0%	16.8%	8.0%	23.2K	-144.4K	-1.2K	0.00	128.30	3	0	280	26
2014-08-25	$28.00	$25.00	17.1%	5.4%	26.3%	1.0%	0.0%	8.8%	7.6%	23.4K	-147.0K	-1.2K	0.00	128.21	2	0	280	26
2014-08-26	$28.05	$25.00	17.7%	5.4%	26.3%	1.3%	0.0%	15.7%	7.1%	23.4K	-148.1K	-1.2K	0.00	129.16	0	0	282	26
2014-08-27	$28.05	$25.00	17.1%	4.9%	26.0%	0.9%	0.0%	8.5%	6.3%	24.3K	-156.9K	-1.2K	0.00	116.38	95	0	282	26
2014-08-28	$28.14	$25.00	17.3%	5.3%	20.3%	1.1%	0.0%	10.8%	6.8%	34.2K	-193.2K	-1.4K	0.00	124.93	0	0	377	26
2014-08-29	$28.05	$25.00	17.3%	5.1%	19.9%	1.1%	0.0%	9.1%	6.1%	34.1K	-195.0K	-1.4K	0.00	125.19	0	0	377	26